Zee Entertainment shares have emerged as the hot topic in the market in recent days, in the wake of a sensational rally since the start of last week, primarily on the back of the FIFA World Cup broadcasting deal.
The stock is currently trading at Rs 112, up half a percent intraday. However, in the last five trading sessions, Zee Ent shares have surged as much as 18%. The stock is up 24% since the turn of the year.
Much of the rally came last week, especially after the company bagged the rights to broadcast the next two FIFA World Cups for a total of $30 million, which comes at a significant discount to the $100 million asking price FIFA had put on, as reported by Reuters.
Zee Ent's deal includes the broadcast of the upcoming 2026 FIFA World Cup, the 2030 FIFA World Cup, as well as the FIFA Women's World Cup and a football docuseries.
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In order to build the bandwidth for one of the biggest tournaments in the world of sports, Zee also announced the launch of four sports channels - Unite8 Sports 1, Unite8 Sports 1 HD, Unite8 Sports 2, and Unite8 Sports 2 HD.
With the FIFA World Cup already playing a key role in shaping the job market in the US, the tournament's broadcasting rights have certainly helped Zee Entertainment.
Should you buy Zee Ent?
Speaking to NDTV Profit, Milan Vaishnav, CMT, MSTA ,Founder and Technical Analyst, Gemstone Equity Research, did not seem all too confident about the Zee Entertainment rally.
"I won't buy for the next two to three days. If I were long, I would have used the strong rebound that we have to exit the stock," he said.
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